Mind raises $72M to stop sensitive data leaking into AI tools

Data loss prevention company Mind Security Inc. has secured $72 million in new funding to expand its services into large enterprise accounts. The software firm offers a solution that identifies sensitive files across an organization's various platforms, classifies them by content and context, and then employs controls to prevent risky activities or prompt users when policies are violated.

Mind's technology aims to address the challenges posed by artificial intelligence, which is rapidly transforming data and sharing it without human oversight. A recent study by Mind found that 65% of enterprises lack confidence in their existing data controls when it comes to AI systems. To tackle this issue, Mind released AI DLP Agents in July, which can create custom classifiers, draft policies, and investigate incidents using plain language instructions.

The company's CEO, Eran Barak, highlighted the growing demand for robust data protection in the AI era, noting that current DLP solutions were not designed with AI in mind. Mind's revenue has surged more than 17-fold and its customer base has grown eightfold over the past year, although exact figures were not disclosed. The software is currently deployed across hundreds of thousands of endpoints and is being used by institutions such as Children's Hospital Los Angeles and the National Geographic Society to safeguard sensitive information.

Mind has also gained access to Anthropic PBC's Cyber Verification Program and has obtained ISO/IEC 42001 certification for AI management systems. The startup's recent funding round, led by Crosspoint Capital Partners and involving YL Ventures and Paladin Capital Group, brings its total funding to $112 million.